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Accounting plays a pivotal part in the operation of any business. If an accounting system is not up to the standard, you may start facing money crunch. For an organization to work smoothly, you must understand the essentials like the required costs, how much time is put in for making a product and what more should be invested in the business. If you fail to plan meticulously on these points, it is very unlikely that your business will expand. Conversely, if you have kept a track of the way, things are carried out and have a fair idea about its financial scenario, you will be able to stay ahead in the competition. There have been multiple changes over the years in accounting. Accountants have started adopting new trends that have given a boost to their income and also made their work easy to a great extent. Following list demonstrates the most-recent trends that have taken accounting industry by storm.

Shift to cloud accounting will increase

As more businesses are shifting to clouding technology to store data and cut down costs, cloud accounting is gaining importance. An emerging shift, this has set the path for enhanced cooperation among team members and given a better understanding of financial condition. This involves the use of software, which operates on server and can be accessed from anywhere through the Internet. This way, the data is available to employees and the accountant for use whenever required. It gives the accountant more transparency in work and also lets him/her keep checking on possible discrepancies.

Decentralization of accounting software

Earlier tasks such as generation of bills, reports, management of inventory and setting up a payroll system were all carried out at one place. However, more businesses are now opting for distribution of these tasks. The accounting field is making use of various applications for solving business issues with ease. These applications facilitate easy sharing of information. Decentralization has doubled the revenue for accountants as they integrate into multiple partnerships.

Automation will be an integral part of work

It eliminates manual data entry and thus reduces the burden of maintaining huge book records of years. It also reduces the chances of records being misplaced or tampered due to human negligence. This can be beneficial for small-business owners and entrepreneurs to a large extent. These tools promote effective communication between accountants and their clients and also help them deal with real time accounting problems.

Rise in social media strategy

Many businesses today prefer social media marketing of their products to increase their target audience. In the same way, use of social media strategy for accounting is also rapidly gaining attention as business owners are found more active on this platform. This trend has not only been picked up by major accounting firms but also has given entrepreneurs a better clarity to choose their accounting firm by getting an insight into the services offered. The accountants can market themselves by communicating to various people. It also enhances their exposure to new things and increases their visibility in the industry.

Increase in collaborative accounting

Although this is not which has been introduced recently, it is certainly giving new direction to business and opening up new vistas for sale. Collaborative accounting makes use of the Internet and latest technology to function irrespective of the location. For instance, the accountants can access client transactions and modify them if necessary by making use of cloud software. They can then inform about it to their clients by using different available chat platforms. This is being termed as the future of this field.

Accountants will turn into consultants

The working module is going to witness a huge change. Instead of paying your accountant on an hourly basis, flexible options will come into the picture. Apart from advice on tax deduction, accountants will be able to give you an outlook and suggestions on how to cut down your tax bill for the next financial year. They will become your trusted consultants who help you make your business grow exponentially.

Firms outsourcing their accounts

Many organizations are catching up with the latest trend of outsourcing their accounts department. This helps the owners to focus on their business and think of ways to boost it. It also helps in cutting expenses and guarantees that the accountant will scrutinize the reports for frauds.

Managing accounts form an important part of an organization. It keeps a check on the inflow of cash and enhances scalability of business. With new ways available to manage accounting of your firm, it has greatly reduced monotonous methods of handling records and increased lucidity in the working of an organization.

You can really make enormous amount of money online as long as you are knowledgeable in running any type of business. You can offer your expertise to those entrepreneurs who are just starting up or those who are struggling to improve their sales and revenue.

The good thing about business consulting is that you can work from the comforts of your own home. You can relay your messages, offer your expert advice, and conduct trainings using the internet or your telephone. That would mean having more time with your family or doing the things that you are deeply passionate about while you get direct control over your salary and your working hours. Sounds fun, right?

Here’s how you can make money and excel at business consulting:

1. You must be a people person. Truth be told, entrepreneurs only work with consultants who are amiable or friendly. Well, who would want to work with somebody who is difficult to deal with? As a consultant, you need to have superb social skills. You need to be comfortable talking and working with other people. You must be a team member. You must have great disposition in life, you must be open to ideas, and you must always wear a smile on your face to easily put your clients at ease.

2. Attention to details. Running a business can be sometimes tricky. You skip or miss one important element, your business will come crashing down. That is why, it is very important that you pay attention even to the smallest details that can have direct impact on the success of a business.

3. Be willing to do overtime. There are just some times that you need to extend your working hours depending on the assistance that your clients require from you. If you intend to make it big in this field, you need to leave a lasting impression to each person that sign up to your service. Go out of your way to make sure that everything they need is covered. At times, this may mean working for longer hours.

4. Increase your knowledge. Obviously, entrepreneurs will most likely to rely on your expertise. Thus, it is a must that you always have answers to their questions. Widen your knowledge on your chosen field by doing research on a regular basis. Work together with other industry leaders and if needed, get first-hand experience on the things that are relevant to your consulting business. The more you increase your knowledge, the better business consultant you’ll become.

Business coaching and business consulting are two of my primary services. What’s the difference, you ask? Wikipedia defines as, “Business coaching is the practice of providing support and occasional advice to an individual or group in order to help them recognize ways in which they can improve the effectiveness of their business.” BNET defines Business Consulting as “an expert in a specialized field brought in to provide independent professional advice to an organization on some aspect of its activities”.

It may seem like a small difference, but it is an important one. The critical issue is to identify what your business actually needs.

If you need: ongoing help with reaching max potential, someone to confirm your decisions, cheer you on, a transformational relationship with a mentor…you are looking for business coaching.

If you need: situational help with a specific problem, to call in an “expert” for advice, an analysis and recommended remedy…you are looking for a business consultant.

Yes, those definitions are a bit oversimplified and quite often there will be crossover. I suggest you create specific definitions for your business and its needs ahead of time. In the long run, it will help you make stronger decisions about hiring a contractor for coaching/consulting services.

If you are thinking of opening a consulting business, particularly in Portland, OR, here’s some recent research:

Although economic times are challenging in general, Portland has a positive outlook. Greenlight Greater Portland recently released a report indicating that the metro area would add 100,000 new jobs in 2008 and is predicted to grow economically by 29% or $14 million dollars.

Several growth sectors were also identified: professional, financial and information services, as well as construction and natural resources. It is predicted that Portland’s professional and business services sector will grow 23 percent to more than 170,000 workers by 2013.

In addition, the American Management Association (www.workforce.com) recently released a report with positive findings for job growth in the business consulting/ coaching field.

Among the findings were:

• Business coaching is more popular than ever, boosted by companies struggling to develop a new generation of leaders to replace retiring baby boomers, and due to a proliferation of business coaches and coaching training programs.
• Of U.S. companies surveyed, 52 percent said they had business coaching programs in place, and another 37 percent said they would be implementing coaching programs in the future.
• Companies use coaches to work with executives, high-potential employees, problem managers and expatriates headed to overseas assignments.
• Companies that use formal metrics to measure performance of coaching programs are most likely to report that those endeavors are successful.

According to both local and national sources, it is a good time to be in coaching/consulting. If you are interested in starting your own business, I recommend sitting down with a consultant and talking to them about what it is like in your neck of the woods..

Imagine if you were no longer threatened by consulting commoditization and the resulting loss of firm revenues. What if you could leverage technology in a way that would increase your profit margins and open doors of unlimited add-on consulting opportunities?

You are painfully aware that service-capability selling by a consulting organization no longer works. Clients are increasingly seeking productized consulting solutions to common business problems.

Now absorb this information: Gartner reports that the consulting organizations that will ultimately survive in the future will be those that create standard, repeatable consulting services.

What then, is the secret to building a thriving consulting practice in the face of commoditization?

1. Do This to Stand Out in a Commoditized Crowd
Al Ries, author of The 22 Immutable Laws of Branding observed that most professional service firms are good at generating prospects, but not at branding. The key is not what you do (the commodity) but the way you do it (your brand).

Just imagine what would happen if you productized your common business services and then competed on the merits of your brand.

2. Do This to Profit From Commoditization
You probably already know this, but productizing services with pre-defined project plans not only accelerates project completion but also increases firm profit margins.

Think of how many of your current services could be pre-defined and delivered as a solution package. What affect would that have on your profit margins?

3. Do This to Move Beyond Commoditization
Most experts agree that it costs 6-12 times more to acquire a new customer, than it is to expand your offering into existing customers.

Can you imagine the doors of add-on opportunities that will open to you as you successfully deliver a productized commodity service?

Now for the best news of all: productizing your services couldn’t be easier. Software technology exists that allows firms to quickly productize services with project plans, resource plans, billable hours and even client collaboration.

But be sure to select a software partner that provides:

1. ASP software (the last thing you need is technology hassles)

2. Cross-platform software (you need a solution that fits in any environment)

3. Customization (you are the business expert, not them)

4. Commissions (you should be making money with their software)

Learn more about wining the commodity game; get your free copy of the guide “3 Steps to Build a $100M Consulting Firm” at [http://www.attask.com/partner/consult-signup.html]

Twenty to thirty years ago the term ‘asbestos’ was not common among the people. They were not aware about the harmful effects of this fibrous material that can cause lung cancer or breathing disorders in the human respiratory system. Asbestos is a toxic mineral that is used in building materials and vehicle brakes to get resistance from the corrosion and heat. Inhaling of this mineral can cause asbestosis disease that can even lead to the death.

Those workers who work in the brake and clutch repairs, or in construction industry are at the higher level of risk for catching such hazardous diseases caused by asbestos. Fibers of asbestos are very small which can’t be seen by the naked eyes. People are required to take safety measures to escape from the harmful health problems.

Earlier, asbestos was considered as an ideal material for constructing the buildings. Most of the buildings that were built in the time period of 1980-1990′s are containing asbestos. So, it is required to remove this harmful product so that you can keep yourself safe and healthy. However it is never suggested to remove the asbestos from your home with your own efforts. The reason behind it is that you can can catch some of the fibers as they are very thin and it will cause serious health disorders in your body.

There are particularly trained consultants for the removal of asbestos from residential or commercial buildings. It is advised to take the help of these asbestos consultants because they give special services and advices for all the problems related to the asbestos removal. Asbestos consultants make you aware and provides the information on identification symptoms, preparing work area for the removal and proper cleaning of this toxic material.

Asbestos consultants also provides the assistance for government laws that are connected with the industries that are using asbestos containing material. Asbestos consultants help you in determining the safe processes to work with asbestos. Asbestos consultants also inform that how much percentage of asbestos is present in your residential or commercial building. They perform a test and check the status of the asbestos, to estimate the extent of health dangers for the people who are living or working in the building.